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4540 Hornyak Drive Monroe, NC 28110

3 Beds 3 Baths 1,770 sqft Built 2021

$325,900

List Price

$1,700

$1.5K - $1.9K

Rent Est.

$88,364

Investment Est.

AVAILABLE

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AVAILABLE

1 Year
(+7.1%)
1 YR. PROJ. APPRECIATION


Cap Rate	4.3%
Cash Flow	$2,124
Value Increase	$23,379

10 YEAR

Cash On Cash	1.4%
Total Return	14.1%

PROPERTY INFO

Built 2021 NEW CONSTRUCTION

SINGLE-FAMILY

February 26, 2021 RECENTLY ADDED

FACTS

Single Family
Built In 2021
Price/Sqft : $184.12
3 Days on Market
MLS # : 3712655
Updated Date : 02/26/2021 at 13:39

CONSTRUCTION

Beds : 3
Floor Size : 1,770 sqft
Baths : 2 full , 1 half

Listing Agent

Lgi Homes Nc Llc

Listing Agent's Description

This beautiful home has the space your family needs to fit you at every stage of life. A fantastic loft space is available to utilize in a way that suits your family’s needs, whether that is as a playroom or an office or something else. An open floor plan with incredible kitchen is perfect for entertaining and enjoying time with your family. Last but not least, an incredible master suite offers a vaulted ceiling, private bath with tons of storage and a large walk-in closet **The Home Photo's are samples some features/finishes may differ** **Ask us about paid closing cost** **Union County School District - Porter Ridge Schools - 2.8 miles from our community**

MARKET HIGHLIGHTS

Charlotte Market Report

Charlotte metro has 65.8% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
Charlotte attracted more than $325 million in capital investments in 2018Q2 (Meckelenburg county, June 2018)

Charlotte metro's economy is worth $181 billion in Gross Metro Product and projected to grow to $192 billion in 2019 (USMayors.org, 2018)
#1 Millenial Moving destination city (Smart Asset)

Corporate Fortune 500 headquarters: Bank of America, Lowe’s, Duke Energy, Nucor, Family Dollar Stores, Sonic Automotive, Domtar
#3 fastest-growing big city in US with more than 15,000 people added in 2017 (US Census, 2018)

Zip Code: 28110

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 28110

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME	EDUCATIONAL LEVEL	SCHOOL TYPE	# OF STUDENTS	# OF TEACHERS	GREATSCHOOLS RATING
Porter Ridge Elementary School	Primary	Regular	479	31	6
Porter Ridge Middle School	Middle	Regular	1,385	72	7
Porter Ridge High School	High	Regular	1,591	77	7

Porter Ridge Elementary School

Education Level: Primary
# of students: 479
# of teachers: 31

GreatSchools Rating

Porter Ridge Middle School

Education Level: Middle
# of students: 1,385
# of teachers: 72

GreatSchools Rating

Porter Ridge High School

Education Level: High
# of students: 1,591
# of teachers: 77

GreatSchools Rating

FINANCIALS

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$293,310$358,49000$325,900

PURCHASE PRICE

$1,530$1,87000$1,700

RENT

DOWN PAYMENT

FINANCING

OFF ON

Acquisition Concierge

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PROPERTY

Expense Inflation	%
Vacancy	%
Length of Stay
Expense Inflation	%
Vacancy	%
Length of Stay

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (6+)

Appreciation	%
Rental Growth	%
Maintenance	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

Learn how to read this

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME	Rent	$1,700
EXPENSES	Loan Payment	-$1,132
	Property Tax	-$170
	Property Insurance	-$61
	HOA	-$42
	Property Management Fees	-$119



CASH FLOW $177

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$325,900

PROJECTED PRICE

$1,700

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS
Expense Inflation	2.50%
Rental Growth Year (1-5)	2.98%
Appreciation Year (1-5)	7.1%
Maintenance Year (1-5)	3.00%
Vacancy	6.57%
Length of Stay Years	2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

Cash Flow
Appreciation
Principal

PROJECTED ANNUAL CASH FLOW

Tenant Turnover

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

Appreciation
Principal
Loan Balance

TOTAL CASH OUT OF POCKET

INVESTMENT

$88,364

Down Payment	$81,475
Rehab Estimate	$2,000
Closing Costs	$4,889

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,132

MONTHLY LOAN PAYMENT

30 yr

3.75%

25.00%

Down Payment

Term	30 Years
Interest	3.75%
Down Payment	$81,475
Loan Amount	$244,425

See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$37,956

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

$1,700
LIST RENT
$0.96
LIST RENT PER SQFT

$1,717
COMP ESTIMATED VALUE
$0.97
COMP AVG. RENT PER SQFT

Comps Range

$1,506

1$1,5062$1,6453$1,7004$1,775

$1,775

RENT COMPS ANALYSIS

1,770
PROPERTY SQFT
$0.97
AVG RENT PER SQFT
$1,717
ESTIMATED VALUE
$1,700
LIST RENT

4540 Hornyak Drive Monroe, NC 5

3 beds 3 baths ∙ 1,770 Sqft ∙ Built 2021 3 beds 3 baths ∙ 1,770 Sqft ∙ Built 2021
Price

Price Per SQFT

$325,900

$184.12
4800 Niagra Court Monroe, NC 1

3 beds 2 baths ∙ 1,928 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,928 Sqft ∙ Built 1998
SOLD 06/09/20
Price

Price Per SQFT

$238,000

$123.44
211 Pennigar Road Monroe, NC 2

3 beds 2 baths ∙ 1,769 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,769 Sqft ∙ Built 1996
SOLD 10/01/20
Price

Price Per SQFT

$250,000

$141.32
1014 Garden Web Road Indian Trail, NC 3

3 beds 3 baths ∙ 1,806 Sqft ∙ Built 2011 3 beds 3 baths ∙ 1,806 Sqft ∙ Built 2011
SOLD 03/25/20
Price

Price Per SQFT

$255,000

$141.20
4432 Roundwood Court Indian Trail, NC 4

4 beds 3 baths ∙ 1,979 Sqft ∙ Built 2011 4 beds 3 baths ∙ 1,979 Sqft ∙ Built 2011
SOLD 11/17/20
Price

Price Per SQFT

$276,500

$139.72

4540 Hornyak Drive Monroe, NC 3

3 beds 3 baths ∙ 1,770 Sqft ∙ Built 2021 3 beds 3 baths ∙ 1,770 Sqft ∙ Built 2021
Rent

Rent Per SQFT

$1,700

$0.96
2210 Willis Long Road Monroe, NC 1

3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1995
LEASED 04/25/20
Rent

Rent Per SQFT

$1,506

$1.00
4432 Roundwood Court Indian Trail, NC 2

4 beds 3 baths ∙ 1,979 Sqft ∙ Built 2011 4 beds 3 baths ∙ 1,979 Sqft ∙ Built 2011
LEASED 01/15/21
Rent

Rent Per SQFT

$1,645

$0.83
4322 Hornyak Drive Monroe, NC 4

3 beds 3 baths ∙ 1,698 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,698 Sqft ∙ Built 2019
LEASED 11/12/20
Rent

Rent Per SQFT

$1,775

$1.05

PROPERTY LISTING DETAILS

Willie Caldwell
1.704.751.0070
Lgi Homes Nc Llc

1.866.250.5610

Carolina Multiple Listing Services ( Carolina)
MLS #: 3712655
Last Updated: 02/26/2021

4540 Hornyak Drive Monroe, NC 28110

$325,900

$1,700

$88,364

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

MARKET HIGHLIGHTS

PRICE & RENT TRENDS

SCHOOLS

Porter Ridge Elementary School

Porter Ridge Middle School

Porter Ridge High School

FINANCIALS

$293,310$358,49000$325,900

$1,530$1,87000$1,700

Acquisition Concierge

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$325,900

$1,700

0.52%

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$1,132

8.42

$37,956

$325,900

$184.12

$241,463

$136.42

COMPS RANGE

PRICE COMPS ANALYSIS

$1,700

$0.96

$1,717

$0.97

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS